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    LASTMA Introduces Drone Technology to Improve Traffic Management in Lagos

    LASTMA Introduces Drone Technology to Improve Traffic Management in Lagos

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

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Apple gains as Global smartphone shipments grows by 4% in Q3 2024

by Eucharia Egwuma
October 23, 2024
in Business, Tech
Reading Time: 4 mins read
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After Five Years, Apple Regains Lead as Global Smartphone Provider
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New data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker has revealed that global smartphone shipments increased by 4% (year over year) to 316.1 million units in the third quarter of 2024 (3Q24).

This marks the fifth consecutive quarter of shipment growth with a strong start into the second half of this year despite macroeconomic concerns. “Led by strong growth from Chinese vendors like vivo, OPPO, Xiaomi, Lenovo and Huawei, the smartphone market shows resilience despite global economic headwinds”, said Will Wong, senior research manager for AP Client Devices. 

Observedly, the growth experienced by vendors in the quarter was uneven. While some companies grappled with elevated Bill-of-Materials (BOM) costs, others benefited from favourable exchange rates in emerging markets like Southeast Asia. “Vivo’s performance was particularly notable, fueled by aggressive product launches and a low comparison base”, he added.

Samsung retained its market leadership with an 18.3% share of the total sales despite a drop in the total number of units shipped. The numbers indicate the company’s continued growth in its share in the premium segment as the average prices increased in the quarter driven by a stronger mix of Galaxy AI-enabled models.

“The company started rolling out Galaxy AI features to other Samsung models and launched the new Galaxy Z Fold6 and Galaxy Z Flip6 foldables with Galaxy AI, which contributed to a better performance in the premium segment”, said Francisco Jeronimo, vice president for EMEA Client Devices.

According to an IDC's Worldwide Quarterly Mobile Phone Tracker survey, Samsung shipped nearly three billion smartphones in the past decade, 33% more than Apple and more than Xiaomi, Huawei, and Vivo combined.
Samsung maintains market leadership…

While the growth of the Chinese players in emerging markets has been an ongoing theme this year, Apple enjoyed 3.5% YoY growth this quarter to retain the second spot. This was fueled by a strong demand from the previous models and the launch of the new iPhone 16 lineup.

In Q3 2024, older iPhone models, specifically the iPhone 15, performed exceptionally well due to the heavy promotions and increased marketing activities around Apple Intelligence.

“Despite the staggered rollout of Apple Intelligence in markets outside the U.S., Apple will continue to grow in the upcoming holiday season as it expects many customers to upgrade from the iPhone 13, iPhone 12 and prior models to a new AI-enabled smartphone”, said Nabila Popal, research director for Worldwide Client Devices.

Xiaomi ranked third with a 13.5% share, a significant drop from the 14.8% it had the previous quarter. Vivo and OPPO settled for the fourth and fifth positions respectively with 9.1% and 8.5%. While Oppo maintained the same share as the previous quarter, Vivo lost about 0.6% from its Q2 performance.

See the breakdown below:

Top 5 Companies, Worldwide Smartphone Shipments, Market Share, and Year-Over-Year Growth, Q3 2024 (Preliminary results, shipments in millions of units)
Company3Q24 Shipments3Q24 Market Share3Q23 Shipments3Q23 Market ShareYear-Over-Year Change
Samsung57.818.3%59.519.6%-2.8%
Apple56.017.7%54.117.8%3.5%
Xiaomi42.813.5%41.513.6%3.3%
OPPO28.89.1%27.28.9%5.9%
vivo27.08.5%22.07.2%22.8%
Others103.732.8%99.632.8%4.1%
Total316.1100.0%303.9100.0%4.0%
Source: IDC Worldwide Quarterly Mobile Phone Tracker, October 14, 2024

Global smartphone sales dipped by 2.5% quarter on quarter

Last quarter, global smartphone shipments increased by 6.5% year over year, reaching 285.4 million units in the second quarter of 2024.

Key highlights: 

Xiaomi ranked third with a 14.8% share, while vivo and OPPO tied for the fourth position with 9.1% and 9.0% shares, respectively. 

Samsung secured the top position in Q2 2024 with an 18.9% share of shipments, driven by a strategic focus on its flagship models and a robust AI strategy. 

Apple followed in second place with a 15.8% share, bolstered by improved performance in China and other key regions. Both companies experienced modest year-over-year growth. 

Recall that Technext reported data from the IDC mobile phone tracker where it was revealed that global smartphone shipments increased by 7.8% year over year, reaching 289.4 million units in the first quarter of 2024. 

iPhone12

What is clear from this trajectory is that major brands like Samsung and Apple are seeing growth and will continue to grow primarily due to their focus on premium models and advancements in AI technology. 

However, demand remains uneven across different markets, and competition is intensifying, particularly in the low-end segment. The introduction of Gen AI smartphones is anticipated to be a significant growth driver in the coming months, potentially leading to further market expansion.

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